As you may have guessed from the name, Dentacoin is a digital currency catered to the world of dentistry. The currency was created specifically to meet the needs of the global dental industry. The digital currency began a trial run in March 2017, when it was implemented by SWISS Dentraprime, a dental implant clinic dedicated to introducing automation and digitization features into their processes.
DCN was used as part of their patient loyalty program. Patients who visited the clinic received Dentacoins in return for their feedback, reviews, or recommendations. The trial period ended in May. You can read a detailed report on the trial run at their blog.
The first goal of the Dentacoin Foundation is to create a review platform. In the future, however, they plan to release a blockchain-based insurance program and a blockchain-based healthcare database, among other projects.
The DCN project is perfectly interesting. And in the future, you might see lots of hyper-niche projects like this trying to tackle their respective fields.
But, still, there are are some things to keep in mind. The DCN project itself is extremely early on; unlike other projects in the space, they don’t have much to show right now. And that’s fine too, but it does beg the question whether the token is overvalued presently at the $475 million market capitalization.
In my estimation, that valuation is overvalued , at least at present. Can Dentacoin hit that market cap again down the road when it does more to prove itself? Certainly. But it’s too high for my taste at the moment.
That’s no knock against what this coin is trying to do. It looks like a very interesting and noble project. We just warn against rampant speculation that might get you burnt in the short-term.
My biggest concern with DCN is that dentistry will always be a heavily regulated profession. Our governing body would be very hesitant, in my opinion, to allow dentists to accept and use dentacoin. If it becomes widespread, I could easily see it being shut down overnight.
Investment watch can’t give you a go ahead though, so ultimately you have to decide what’s right for you. If you like this coin, it’s certainly a different kind of hodl for 2018 and beyond.